Islamabad: The government’s liquidity risks remain high despite the International Monetary Fund (IMF) staff-level agreement, says Moody’s Investors Services (Moody’s).
The rating agency, in its latest brief on Pakistan, stated that on 29 June, Pakistan (Caa3 stable) reached a staff-level agreement with the IMF over a $3 billion nine-month Stand-By Agreement (SBA) after an IMF Extended Fund Facility programme expired at the end of June.
The agreement is subject to the approval of the IMF’s executive board, which is expected to decide by mid-July. If approved this month, the agreement will expire in April 2024.
